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SunTrust Completes Acquisition of GB&T Bancshares, Inc.

PRNewswire-FirstCall
ATLANTA
May 1, 2008

SunTrust Banks, Inc. today announced the completion of its previously announced acquisition of GB&T Bancshares, Inc. enhancing SunTrust's presence in high-growth Georgia markets including the fast-growing Atlanta suburbs and surrounding counties.

The transaction adds approximately $1.5 billion in deposits and, once the integration is completed in late summer, 17 banking offices to SunTrust's already strong presence in North and Central Georgia.

Under the previously disclosed terms of the agreement, GB&T shareholders received 0.1562 shares of SunTrust common stock for each share of GB&T common stock held. SunTrust issued approximately 2.2 million shares to GB&T shareholders to complete the transaction.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of March 31, 2008, SunTrust had total assets of $179.0 billion and total deposits of $116.2 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com.

First Call Analyst:
FCMN Contact: michael.mccoy@suntrust.com

SOURCE: SunTrust Banks, Inc.

CONTACT: Mike McCoy of SunTrust Banks, Inc., +1-404-588-7230